Liz Truss, the disastrous former Prime Minister who caused economic chaos during her premiership, has offered her opinion ahead of Labour’s first budget in nearly 15 years.
“Liz Truss and the Conservatives crashed the economy, sent people’s mortgages soaring, and left this government to clean up their mess,” a Labour insider said.
In between her self-ingratiating self-publicity in promoting her book Ms Truss warned of the electorate of the “pain” to come from Rachel Reeves’s budget. Even though her mini-budget, which included billions of pounds in unfunded tax cuts in 2022, caused economic instability.
The 49-day PM acknowledged on the air just hours before the Budget that “the economic situation was already bad” with taxes at a 70-year high.
However, she claimed that just hours before Rachel Reeves presented the budget, Labour “seem hell-bent” on making the current economic crisis worse.
Following yesterday’s budget, the Chancellor was anticipated to raise corporate taxes.
She told Talk TV, “I fear this is just the start of the pain – it’s going to be a very painful day.” She added “Businesses will not invest in our country because taxes are so high. We’ll discover that Labour wants to return for more the next year.”
When she and her Chancellor Kwasi Kwarteng introduced the notorious mini-Budget in 2022, the nation’s shortest-serving prime minister claimed she aimed to turn things around.
Naturally, others on X were quick to remind out that it caused a financial crisis and that Ms. Truss had to rescind her important initiatives, like a tax cut for the wealthiest British citizens, before eventually she was removed from No. 10.
“Not as painful as her budget,” one person wrote on Twitter, adding “I’d like to talk to Liz Truss about budgeting.”
Someone else asked: “Why should we listen to Liz Truss when she ignored world opinion and crashed the UK economy”
The Best for Britain campaign group summed it up by saying: “Liz Truss weighing in on fiscal policy is like asking a pyromaniac to assess fire safety standards. Let’s just not.”
Labour MP Neil Coyle added: “My constituents remember Truss’ chaotic mini-Budget & are still paying higher mortgages/bills as a result. A good reminder from an unlikely source of why stability & a new focus under Labour is so important.”
